Bandwidth Inc (NASDAQ:BAND) Expected to Post Earnings of -$0.15 Per Share

Equities analysts predict that Bandwidth Inc (NASDAQ:BAND) will report ($0.15) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Bandwidth’s earnings. The lowest EPS estimate is ($0.16) and the highest is ($0.15). Bandwidth posted earnings of ($0.05) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 200%. The firm is expected to report its next earnings report after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Bandwidth will report full-year earnings of ($0.45) per share for the current year, with EPS estimates ranging from ($0.46) to ($0.45). For the next year, analysts forecast that the company will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.49) to ($0.27). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Bandwidth.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Wednesday, July 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.19. The company had revenue of $56.80 million during the quarter, compared to analysts’ expectations of $55.06 million. Bandwidth had a net margin of 3.14% and a negative return on equity of 4.97%. Bandwidth’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share.

A number of research analysts recently commented on the company. Zacks Investment Research downgraded Bandwidth from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. assumed coverage on Bandwidth in a research note on Wednesday, July 3rd. They issued an “overweight” rating and a $90.00 price target for the company. Morgan Stanley downgraded Bandwidth from an “equal” rating to a “weight” rating and dropped their price target for the company from $74.00 to $67.00 in a research note on Thursday, September 19th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Bandwidth from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Bandwidth has an average rating of “Buy” and an average price target of $77.50.

BAND stock traded down $0.70 during midday trading on Friday, reaching $58.80. The company had a trading volume of 9,103 shares, compared to its average volume of 319,266. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 188.77 and a beta of 0.60. The stock has a 50 day moving average price of $71.78 and a 200-day moving average price of $74.54. Bandwidth has a 1-year low of $27.75 and a 1-year high of $90.63.

In other Bandwidth news, major shareholder Henry R. Kaestner sold 16,685 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $85.45, for a total transaction of $1,425,733.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey A. Hoffman sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $85.04, for a total value of $850,400.00. The disclosure for this sale can be found here. 15.27% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of BAND. JPMorgan Chase & Co. raised its stake in Bandwidth by 476.4% during the first quarter. JPMorgan Chase & Co. now owns 69,164 shares of the company’s stock worth $4,631,000 after acquiring an additional 57,165 shares in the last quarter. Citigroup Inc. raised its stake in Bandwidth by 388.6% during the first quarter. Citigroup Inc. now owns 26,470 shares of the company’s stock worth $1,772,000 after acquiring an additional 21,052 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in Bandwidth by 14.9% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 551,652 shares of the company’s stock worth $36,939,000 after acquiring an additional 71,491 shares in the last quarter. Strs Ohio acquired a new position in Bandwidth during the second quarter worth about $322,000. Finally, Virginia Retirement Systems ET AL acquired a new position in Bandwidth during the second quarter worth about $1,388,000. 65.47% of the stock is owned by hedge funds and other institutional investors.

About Bandwidth

Bandwidth Inc operates as a cloud-based software-powered communications platform-as-a-service (CPaaS) provider in the United States. The company operates through two segments, CPaaS and Other. Its platform enables enterprises to create, scale, and operate voice or text communications services across mobile application or connected device.

See Also: Why is the ex-dividend date different from the record date?

Get a free copy of the Zacks research report on Bandwidth (BAND)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Bandwidth (NASDAQ:BAND)

Receive News & Ratings for Bandwidth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bandwidth and related companies with MarketBeat.com's FREE daily email newsletter.